Netflix stock has nearly doubled over the last 12 months to levels of about $1,270 currently. The rally has been driven by a crackdown on password sharing and the expansion of its advertising-supported tier.

Wall Street analysts are expecting earnings per share of $7.08, up from $4.88 last year, and revenue of $11.1 billion, up 16%.

Shares of Netflix ( NFLX 1.28%) charged sharply during the first six months of 2025, with shares surging 50%, according to data provided by S&P Global Market Intelligence. That runs circles around the roughly 5% gains of the S&P 500.